By John Lee. WesternZagros Resources has announced its operating and financial results for the second quarter ended June 30, 2016. Commenting on the second quarter results and subsequent events, WesternZagros's Chief Executive Officer Simon Hatfield said: "A significant key milestone was reached with the approval of the Garmian Field Development Plan confirming the commercial potential […]
WesternZagros Resources has announced the resumption of crude oil production and sales from the Sarqala-1 well in the Kurdistan Region of Iraq. Sales are to be in accordance with the payment mechanism for crude oil sales announced by the Ministry of Natural Resources of the Kurdistan Regional Government on February 1, 2016 based on the […]
By John Lee. In a Management Report released to the markets, Gazprom gave the following update on its operations in Iraq: The Badrah field (pictured) (30% held by Gazprom Neft Group): In 2015 production was 1.4 million tons of oil, a level sufficient for the project to pay back. The Garmian block in Iraq (Kurdistan) […]
WesternZagros Resources has announced that the transition of operatorship of the Garmian Block in the Kurdistan Region of Iraq ("KRI") from WesternZagros to Gazprom Neft Middle East B.V. was completed effective February 29, 2016. The agreement does not involve any change of working interest in the production license. This transition was made pursuant to the […]
By Simon Kent. WesternZagros Resources has announced that an agreement has been reached with its major shareholder, Crest Energy International to defer the latest first drawdown notice date under the first tranche of its US$200 million unsecured credit facility from the original date of January 1, 2016 to May 1, 2016. The Company felt it […]
WesternZagros Resources has announced its production of light oil in the Kurdistan Region of Iraq averaged approximately 5,000 barrels per day in the third quarter. As previously disclosed, operatorship of the Garmian Block was to transition from WesternZagros to Gazprom Neft Middle East B.V at the end of the exploration period for the block pursuant […]
By John Lee. Shares in WesternZagros Resources Ltd. (TSX VENTURE:WZR) closed 3 percent down on Thursday following the announcement of its operating and financial results for the second quarter ended June 30, 2015. Second quarter production from the Sarqala-1 well averaged 5,427 barrels of oil per day ("bbl/d"). The Sarqala-1 well has produced approximately 1.8 […]
WesternZagros Resources has issued an update in advance of the company's standard second quarter results which are scheduled for release on 13th August, 2015: Garmian Block Second quarter production from the Sarqala-1 well averaged 5,427 barrels of oil per day ("bbl/d). WesternZagros continues, in accordance with the KRG, to supply this production to the domestic […]
WesternZagros Resources has provided an operational update for its Garmian Block in the Kurdistan Region of Iraq, and a corporate update. Hasira-1 Well The Hasira-1 well is in the process of being suspended after conducting a cased-hole testing program in the high pressure Mio-Oligocene oil reservoir. During this test the wellbore experienced a considerable influx […]
Gazprom Neft is to conduct a 2D seismic survey on the south-eastern section of the Halabja block. The technical equipment and personnel required for the survey are currently being transferred from the south-western section, where the company has already successfully completed a survey spanning 225 linear km. 2D seismic surveys covering approximately 870 linear km […]
By John Lee. WesternZagros Resources has announced its operating and financial results for the fourth quarter and year ended December 31, 2014. WesternZagros achieved several key financial and operational milestones during 2014 and to date, including the commencement of light oil production and sales at an average rate of 5,000 barrels of oil per day […]
By John Lee. WesternZagros Resources has announced the successful closing of its rights offering which expired on November 14, 2014. The Rights Offering, together with the equity backstop arrangement provided by the Company's largest shareholder, Crest Energy International LLC, generated CDN$200 million in gross proceeds to the Company which will be used to fund development […]
